Strata Clean Energy is acquiring Phoenix, Arizona-based Crossover Energy Partners, a utility-scale renewable energy project developer. This acquisition expands Strata’s offerings and incorporates Crossover’s customer origination and power offtake competencies and other renewable energy services, including decarbonization and the development of new technologies like green hydrogen.
“Strata’s acquisition of Crossover bolsters our ability to bring high-value energy solutions to our clients across several market segments and geographies,” said Joshua Rogol, chief development officer for Strata. “The Crossover team has a well-defined track record of innovative product development and financing of differentiated power offtake structures. The combination of our platforms will be valuable to Strata as we grow our development pipeline to over 15 GW this year.”
Strata intends to leverage Crossover’s experience in large-scale project development, working with municipalities, electric cooperatives, community choice aggregators, investor-owned utilities and industrial entities, to pursue utility-scale solar and storage projects.
“Crossover’s track record illustrates the importance of product design and offtake origination to maximize value for renewable projects. Combining our team with the expert development capabilities at Strata will be a win-win and an evolution that our entire team is looking forward to,” said Tiago Sabino Dias, CEO of Crossover.
The specifics of the acquisition remain confidential, but Strata is purchasing 100% of Crossover’s assets and interest in its development platform.
News item from Strata Clean Energy